Nigeria to earn $1.3 billion from cocoa exports this year

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Men pour out cocoa beans to dry in Niable, at the border between Ivory Coast and Ghana, June 19, 2014.
Men pour out cocoa beans to dry in Niable, at the border between Ivory Coast and Ghana, June 19, 2014.

The federal government expects to earn $1.3 billion from cocoa exports this year, an increase of 45 percent on two years ago, after a steady rise in output that could help shift Africa’s top economy away from its reliance on oil.

Agriculture minister, Akinwumi Adesina, who spoke on the sidelines of a cocoa summit in Nigeria’s capital Abuja late on Monday, said the world’s fourth biggest cocoa producer was set produce 370,000 tonnes this year from its 14 major producing areas, up from the 250,000 tonnes that earned it $900 million in 2012.

Reuters